IRON Form 4: Director Kevin Bitterman Sells Shares Under 10b5-1 Plan
Rhea-AI Filing Summary
Kevin Bitterman, a director of Disc Medicine, Inc. (ticker: IRON), reported a sale of company stock under a pre-existing trading plan. On 08/22/2025 he sold 2,287 shares of common stock pursuant to a Rule 10b5-1 trading plan dated January 31, 2025, at a weighted average price of $61.03 per share (individual sale prices ranged from $60.95 to $61.05). The reporting person says he can provide a breakdown of shares sold at each price on request.
The report shows beneficial ownership held indirectly through Atlas-related investment vehicles: 590,621 shares in Atlas Venture Opportunity Fund I, LP; 420,549 shares in Atlas Venture Opportunity Fund II, LP; and 51,000 shares in Atlas Venture Fund XII, L.P. The filer disclaims beneficial ownership of those fund-held shares except to the extent of any pecuniary interest.
Positive
- None.
Negative
- None.
Insights
TL;DR: Routine Rule 10b5-1 sale by a director with substantial indirect holdings through Atlas-managed funds; no obvious material change to control.
The filing documents a small-sale transaction of 2,287 shares executed under a documented 10b5-1 plan, indicating pre-authorized dispositions rather than opportunistic insider trading. The reported weighted average price is $61.03. Most shares noted on the form are held indirectly by Atlas-affiliated funds, and the reporting person disclaims beneficial ownership except for any pecuniary interest. From an investor disclosure standpoint this is a routine, transparent Form 4 that maintains compliance with Section 16 reporting obligations.
TL;DR: Governance practices followed: trade executed under 10b5-1 plan and reporting includes standard ownership disclaimers for fund-held shares.
The filing includes the required attestation and an attorney-in-fact signature. The seller used a Rule 10b5-1 plan dated January 31, 2025, which, if properly documented, provides an affirmative defense to insider trading claims. The ownership disclosures identify layered fund structures and include standard disclaimers of beneficial ownership, limiting perceived direct control by the reporting person. No departures from routine disclosure practices are evident in the document.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 2,287 | $61.03 | $140K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- Shares were sold pursuant to a Rule 10b5-1 trading plan dated January 31, 2025. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $60.95 to $61.05 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. These shares are held by Atlas Venture Opportunity Fund I, LP ("Opportunity I"). The general partner of Opportunity I is Atlas Venture Associates Opportunity I, LP ("Associates I"). Atlas Venture Associates Opportunity I, LLC ("Associates I LLC") is the general partner of Associates I. The Reporting Person is a member of Associates I LLC and disclaims beneficial ownership of such securities held by Opportunity I, except to the extent of his pecuniary interest therein, if any. These shares are held by Atlas Venture Opportunity Fund II, LP ("Opportunity II"). The general partner of Opportunity II is Atlas Venture Associates Opportunity II, LP ("Associates II"). Atlas Venture Associates Opportunity II, LLC ("Associates II LLC") is the general partner of Associates II. The Reporting Person is a member of Associates II LLC and disclaims beneficial ownership of such securities held by Opportunity II, except to the extent of his pecuniary interest therein, if any. These shares are held by Atlas Venture Fund XII, L.P. ("Atlas XII"). The general partner of Atlas XII is Atlas Venture Associates XII, L.P. ("Associates XII"). Atlas Venture Associates XII, LLC ("Associates XII LLC") is the general partner of Associates XII. The Reporting Person is a member of Associates XII LLC and disclaims beneficial ownership of such securities held by Atlas XII, except to the extent of his pecuniary interest therein, if any.
